Russia’s transition to national currencies when paying for energy resources is linked to the systematic and excessive abuse of the US status as a world reserve currency issuer. such an opinion expression Alexei Grivach, Deputy Director General of the National Energy Security Fund (NESF), in an interview with the online publication Lenta.ru.
“This (transition to payments in national currencies) is an objective process associated, on the one hand, with the growing weight of the Chinese economy in world trade. On the other hand, there is an urgent need caused by Washington’s systematic and excessive abuse of its status primarily as the issuer of the world reserve currency,” Grivach believes.
According to the FNEB’s deputy director, industry must adapt as it interacts with regulators at the national and interstate levels to help ensure the transition.
On April 22, Deputy Prime Minister Alexander Novak declaration About Russia’s transition to national currencies when paying for energy resources, and the country will continue to implement this trend.
This week’s Turkish edition of Haber7 WroteThe successful example of Turkey in the transition from the US dollar to national currencies in international agreements forced France and Brazil to follow the example of the republic.